ECB Cuts Deposit Facility Rate From 3.5% To 3.25%
Portfolio Pulse from Benzinga Newsdesk
The European Central Bank (ECB) has reduced its deposit facility rate from 3.5% to 3.25%. This decision may impact European financial markets and related ETFs.
October 17, 2024 | 12:18 pm
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The ECB's decision to cut the deposit facility rate from 3.5% to 3.25% could affect the Vanguard FTSE Europe ETF (VGK), which tracks European markets.
VGK is an ETF that tracks European markets, and changes in ECB rates can influence these markets. A rate cut typically aims to stimulate economic activity, which could positively impact VGK's holdings.
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